MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 8/7/2023 – 8/14/2023
Let’s see what the market’s doing this week in the Riverdale area of the Bronx.
Did You Know?
Currently, 8 -15% of all energy produced for electrical grids is lost as waste heat en route to being used. In the US, this adds up to dozens of nuclear power plants worth of wasted power. (NY TIMES)
Foreign investment in the US soared over 43% in 2022 compared to 2012. fueled by government subsidies. The U.S., which is offering $369 billion in incentives and funding for clean energy is seeing a windfall of foreign investment. Germany’s BMW just broke ground for a new battery plant in South Carolina. South Korea’s Hyundai and LG announced a $4.3 billion battery plant in Georgia. Panasonic of Japan is building a plant in Kansas. (WSJ)
While Babyboomers account for a large swath of wealth – and homeownership – they may also be the source of the largest home inventory over the next decade or so: there were 32 million US baby boomer homeowners in 2019, and the cohort is becoming a larger source of existing homes for sale – around 4.4 million units annually over the next decade — as they move into retirement homes or die. While about 10,000 baby boomers are turning 65 every day around 5,000 baby boomers die every day too….
In Houston Texas, the percentage of workers returned to the office is about 32% higher than the national average.
Texas led clean energy installations with 9.2 GW installed in 2022, followed by California (4.7 GW), Oklahoma (1.5 GW), Florida (1.2 GW), and Nevada (0.9 GW). Texas is the state with the most clean energy in development, about 18% of the total development pipeline, followed by California (9%), New York (8%), Indiana (5%), and Virginia (5%). (FT)
The average American worker spends around 28 minutes commuting each way…..that’s almost 1 hour per day! Imagine cutting that in half…..28 more minutes per day to be with kids, sleep, exercise, etc….imagine the cost benefits to societies at large in healthcare, child care, transportation, pollution, energy use, etc…..
If you think virtual healthcare does not save time, know the average doctor visit takes around 2 hours while a remote visit takes around 15 minutes on average.
Courtesy of Melora Love, Wells Fargo
